Word: latelies
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Dates: during 1980-1989
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...growth, a scenario that has them searching for metaphors. David Hale, chief economist of Chicago's Kemper Financial Services, characterizes the slowdown as an "output pause." Geoffrey Moore, an economics professor at Columbia University, talks of a "stutter step." Economist Lyle Gramley, a former Fed governor, says that by late 1990 the slowdown may be followed by a period of "economic refreshment...
...Center for Business and Economic Forecasting in Denver: "I'm leery of debt. If we could have a recession on the order of 1981 or '82, that could be a real problem." Consumer debt has increased from $1.7 trillion to $3.3 trillion since the expansion began in late 1982. If Americans cut back abruptly on their spending, the effects would ripple through the economy. Businesses would respond to the sales falloff by reducing their own spending and laying off workers, which would spark a further drop in consumer spending...
...tremendous buildup of business debt during the long expansion leaves the economy even more exposed to the effects of a recession. Since late 1982, corporate debt has more than doubled, from $1.1 trillion to $2.2 trillion. Investors in junk bonds, the high-yield securities that account for $225 billion in debt, could be among the first to feel the pinch. According to a study conducted for a group of junk-bond issuers by the economic consulting firm Data Resources, 1 out of every 8 will default if the economy falls into a soft landing. A major recession could produce...
...final analysis, everyone from corporate chieftains to cab drivers realizes that the expansion cannot go on forever. "Someday, some event will end the extraordinary string of economic advances that has prevailed since late 1982," Greenspan told Congress last week. So far, Greenspan has provided a delicate touch in stifling inflation without making the kind of sudden moves that could trigger a recession. The U.S. may be in for only a brief and relatively innocuous reversal like the one in 1961 rather than the painful contraction of 1981-82, when the unemployment rate averaged 8.7%. The current slowdown...
After investing heavily in lives and money to take and hold the Saltoro, it would be politically difficult for Gandhi to yield even part of the territory to Pakistan, especially with national elections only months away. Bhutto is in an even more sensitive position. Having once taunted late President Mohammed % Zia ul-Haq, her predecessor, for losing the territory in the first place, she now faces poisonous criticism from opposition leaders who accuse her of "submission" to India. In the end, both Gandhi and Bhutto will have to stare down their political antagonists in order to agree on a boundary...